Freight Transport Association (FTA) welcomed the opportunity to take part in a face-to-face meeting today with the Chief Secretary to the Treasury, Danny Alexander MP, to discuss the impact of fuel duty on the economy.
The talks held today (Monday 29 October) at HM Treasury were agreed as a result of discussions between FTA backed petrol and diesel campaign group FairFuelUK in order to present the findings of studies carried out by the National Institute of Economic and Social Research, and were seen as a ‘promising start’ to future discussions with a further planned meeting expected in the next few weeks.
Today’s meeting took place ahead of the Government’s planned 3p per litre fuel duty hike, which is scheduled for January 1, 2013. Analysis of ground-breaking modelling work undertaken by FairFuelUK on the impact of fuel duty on UK growth and the economy formed the centrepiece of the discussions.
FairFuelUK is supported by over a quarter of a million members of the public and was created by road hauliers and motoring organisations as a result of spiralling fuel costs which have a devastating impact on haulage businesses, their customers and ultimately everyone through the prices on the shelves.
Quentin Willson, national spokesman for FairFuelUK said: "This is an enormously positive gesture from the Treasury for FairFuelUK to present their ground-breaking research on the impact raising fuel duty has on the UK economy. The fact that Treasury figures are interested and listening sends an important message to all the business and families out there deeply anxious about the forthcoming 3p rise in January. This sort of open-minded engagement is exactly what this country needs to see."
James Hookham, FTA managing director - Communications and Policy, said: "FTA believes that the reductions in fuel duty are the key to unlocking economic grown and we are determined to enlighten the Treasury as to how that can be done."
The results of the recent study include the identification of the impact of fuel duty on UK growth and the economy, and follows earlier research which was carried out by the Centre of Economic and Business Research.
Hookham added: "It is important that the Treasury understands the reasoning behind the reports both the FTA and RHA have commissioned, and takes the opportunity to act upon them in the autumn statement."